Northern Trust Corp Sells 346 Shares of Signature Bank (SBNY)
Northern Trust Corp reduced its holdings in shares of Signature Bank (NASDAQ:SBNY) by 0.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 497,736 shares of the bank’s stock after selling 346 shares during the quarter. Northern Trust Corp owned approximately 0.92% of Signature Bank worth $71,440,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also bought and sold shares of the company. Icon Advisers Inc. Co. raised its holdings in shares of Signature Bank by 1.1% in the second quarter. Icon Advisers Inc. Co. now owns 114,820 shares of the bank’s stock worth $16,480,000 after acquiring an additional 1,300 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Signature Bank by 41.3% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 359,859 shares of the bank’s stock valued at $51,650,000 after acquiring an additional 105,237 shares in the last quarter. AXA lifted its position in shares of Signature Bank by 15.1% in the second quarter. AXA now owns 58,429 shares of the bank’s stock valued at $8,386,000 after acquiring an additional 7,662 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in shares of Signature Bank by 19.1% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 17,033 shares of the bank’s stock valued at $2,445,000 after acquiring an additional 2,730 shares in the last quarter. Finally, Macquarie Group Ltd. lifted its position in shares of Signature Bank by 112.1% in the first quarter. Macquarie Group Ltd. now owns 181,749 shares of the bank’s stock valued at $26,970,000 after acquiring an additional 96,074 shares in the last quarter. Hedge funds and other institutional investors own 95.78% of the company’s stock.
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Signature Bank (NASDAQ:SBNY) opened at 129.24 on Tuesday. The firm has a 50 day moving average of $126.15 and a 200-day moving average of $137.36. Signature Bank has a one year low of $113.53 and a one year high of $164.23. The firm has a market cap of $6.99 billion, a price-to-earnings ratio of 20.70 and a beta of 0.96.
Signature Bank (NASDAQ:SBNY) last announced its quarterly earnings data on Wednesday, July 19th. The bank reported $2.21 EPS for the quarter, missing the Zacks’ consensus estimate of $2.22 by ($0.01). Signature Bank had a return on equity of 12.61% and a net margin of 23.62%. The business had revenue of $316.79 million for the quarter, compared to analyst estimates of $324.44 million. During the same quarter in the previous year, the business posted $1.90 earnings per share. Equities research analysts forecast that Signature Bank will post $7.20 EPS for the current fiscal year.
SBNY has been the topic of a number of analyst reports. Jefferies Group LLC reaffirmed a “buy” rating and set a $145.00 price objective (down previously from $169.00) on shares of Signature Bank in a research note on Thursday, September 7th. BidaskClub downgraded shares of Signature Bank from a “hold” rating to a “sell” rating in a research note on Tuesday, June 20th. Wedbush reissued an “outperform” rating and issued a $165.00 target price on shares of Signature Bank in a research note on Tuesday, June 27th. Morgan Stanley reduced their target price on shares of Signature Bank from $164.00 to $150.00 and set an “overweight” rating on the stock in a report on Friday, September 15th. Finally, ValuEngine lowered shares of Signature Bank from a “buy” rating to a “hold” rating in a report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $158.33.
Signature Bank Profile
Signature Bank is a full-service commercial bank. The Bank operates over 30 private client offices throughout the New York metropolitan area. Its segments include Commercial Banking and Specialty Finance. It offers a range of business and personal banking products and services. Its specialty finance subsidiary, Signature Financial LLC (Signature Financial), provides equipment finance and leasing services.
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